News / Economy

Europe, US Stocks Stabilize, but Asian Indexes Tumble

A man reacts to a gust of wind as it starts to snow, in front of an electronic stock board at a securities firm in Tokyo, Feb. 4, 2014.
A man reacts to a gust of wind as it starts to snow, in front of an electronic stock board at a securities firm in Tokyo, Feb. 4, 2014.
TEXT SIZE - +
VOA News
European and U.S. stocks stabilized Tuesday, a day after a large sell-off at New York exchanges, but Asian markets fell sharply.

Key stock indexes in London, Paris and Frankfurt closed mixed, but U.S. stocks advanced in mid-day trading.  

Asian stocks suffered following Monday's release of weaker-than-expected manufacturing data in the United States.

Tokyo's benchmark Nikkei average ended the day down nearly 4.2 percent - its lowest mark in nearly three months.

After making strong gains in 2013, the Nikkei has tumbled more than 15 percent since the start of the year.

Japanese Cabinet Secretary Yoshihide Suga said investors are concerned about developments in the U.S., with the world's biggest economy.

"In addition to future concerns with the emerging markets, U.S. economic data announced earlier was seen as weak, meaning that there is now a heightened sense of uncertainty with the U.S. economy as well. Investment money thus fled to less riskier U.S. government debt, and at the same time, there was a move to buying back the yen,'' he said.

Trading was also lower in South Korea and Hong Kong. Markets in China and Taiwan were closed for a holiday.

Wall Street on Monday had its worst day since June, after new data showed U.S. manufacturing activity slowed sharply in January.

There are also lingering concerns about emerging markets following the U.S. Federal Reserve's decision to further trim its bond-buying stimulus.

The policy, which is on pace to end altogether by the end of the year, was meant to pump more money into the U.S. economy, boost job growth and keep interest rates low.

But as interest rates edge higher, analysts worry investors will pull their money from emerging economies and seek higher returns in the U.S.

You May Like

Multimedia Relatives of South Korean Ferry Victims Fire at Authorities

46 people are confirmed dead, but some 250 remain trapped inside sunken ferry More

War Legacy Haunts Vietnam, US Relations

$84 million project aims to clean up soil contaminated by Agent Orange More

Wikipedia Proves Useful for Tracking Flu

Technique gave better results than Center for Disease Control (CDC) and Google’s Flu Trends More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Ukraine, Russia, United in Faith, Divided in Politicsi
X
Michael Eckels
April 19, 2014
There is a strong historical religious connection between Russia and Ukraine. But what role is religion playing in the current conflict? In the run-up to Easter, Michael Eckels in Moscow reports for VOA.
Video

Video Ukraine, Russia, United in Faith, Divided in Politics

There is a strong historical religious connection between Russia and Ukraine. But what role is religion playing in the current conflict? In the run-up to Easter, Michael Eckels in Moscow reports for VOA.
Video

Video Face of American Farmer is Changing

The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Donetsk Governor: Ukraine Military Assault 'Delicate But Necessary'

Around a dozen state buildings in eastern Ukraine remain in the hands of pro-Russian protesters who are demanding a referendum on self-rule. The governor of the whole Donetsk region is among those forced out by the protesters. He spoke to VOA's Henry Ridgwell from his temporary new office in Donetsk city.
Video

Video Drones May Soon Send Data From High Seas

Drones are usually associated with unmanned flying vehicles, but autonomous watercraft are also becoming useful tools for jobs ranging from scientific exploration to law enforcement to searching for a missing airliner in the Indian Ocean. VOA’s George Putic reports on sea-faring drones.
Video

Video New Earth-Size Planet Found

Not too big, not too small. Not too hot, not too cold. A newly discovered planet looks just right for life as we know it, according to an international group of astronomers. VOA’s Steve Baragona has more.
Video

Video Copts in Diaspora Worry About Future in Egypt

Around 10 percent of Egypt’s population belong to the Coptic faith, making them the largest Christian minority in the Middle East. But they have become targets of violence since the revolution three years ago. With elections scheduled for May and the struggle between the Egyptian military and Islamists continuing, many Copts abroad are deeply worried about the future of their ancient church. VOA religion correspondent Jerome Socolovsky visited a Coptic church outside Washington DC.
Video

Video Critics Say Venezuelan Protests Test Limits of Military's Support

During the two months of deadly anti-government protests that have rocked the oil-rich nation of Venezuela, President Nicolas Maduro has accused the opposition of trying to initiate a coup. Though a small number of military officers have been arrested for allegedly plotting against the government, VOA’s Brian Padden reports the leadership of the armed forces continues to support the president, at least for now.
Video

Video More Millenials Unplug to Embrace Board Games

A big new trend in the U.S. toy industry has more consumers switching off their high-tech gadgets to play with classic toys, like board games. This is especially true among the so-called millenial generation - those born in the 1980's and 90's. Elizabeth Lee has more from an unusual café in Los Angeles, where the new trend is popular and business is booming.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
AppleAndroid

World Currencies

EUR
USD
0.7217
JPY
USD
102.17
GBP
USD
0.5949
CAD
USD
1.1009
INR
USD
60.326

Rates may not be current.